MAKING DOLLARS AND SENSE OF COMPENSATION AND BENEFITS
Managing compensation and benefits for your veterinary practice consists of a great deal more than simply cutting paychecks. FICA, pay laws, exempt vs. non-exempt employees, overtime considerations, independent contractor rules, minimum wages, required benefits, the list goes on. It can all be a bit overwhelming. Having responsibility for compensation and benefits in a veterinary practice can be a daunting task.
Do you know the answers?
-What do all of the payroll terms mean?
-What are the regulations I must follow?
-How do I know if I am paying a fair wage?
-Do I have to pay for meal breaks?
-What if I have a minor working?
-How do I create pay scales?
-If I want to hire someone how do I know what is a good wage?
-What benefits do other veterinary hospitals offer?
-Health insurance is so confusing; how do I select a plan to offer to my team?
-How do I decide a vacation and time off policy?
These are all are great questions that every manager must face. Don't let learning the ropes regarding these human resource aspects be a harder process than it has to be. VetMedTeam has provided an all-in-one course that provides the answers to the above questions, including some you may not have realized you need to know.
In addition, besides getting excellent information and ideas for compensating your team and providing a fair benefits package, this 3-week course will guide you through exercises that will allow you to explore related items within your own practice.
Regardless of whether you are a novice or experienced manager, or perhaps simply someone who is interested in learning more about this topic, Making Dollars and Sense of Compensation and Benefits will help to create or improve payroll protocols.
|Continuing Education Credits
This course is applicable for 10 CE credits toward the continuing education requirement for the Certified Veterinary Practice Manager program offered by the Veterinary Hospital Managers Association (VHMA).
|Participation Access Parameters
This course runs continuously. Participants may enroll at any time. There are no real time sessions.
The design of this course allows each student to proceed based on individual schedule, as long as all assignments are submitted by the assignment submission deadline.
Each student's personal 3-week session will begin upon enrollment.
Making Dollars and Sense of Compensation and Benefits is a 3-week course designed to assist practice managers and administrators in creating or updating their company’s employee compensation and benefits policies.
The student will understand the scope of compensation planning including base wage, incentives, payroll terminology and procedures. Students will also learn how to determine pay scales for each job description as well as fair compensation policies and benefit plans.
|Course Focus and Learning Objectives
Making Dollars and Sense of Compensation and Benefits is appropriate for all veterinary practice team members involved in team payroll, including financial compensation and the development of benefit packages.
Upon completion of this course, the student will be able to:
- Recognize compensation terminology
- Develop and implement valuable incentive programs
- Identify exempt and non-exempt employees
- Define and identify independent contractors and employees
- Develop an equal compensation plan
- Define the Equal Pay Act, FICA and FLSA, and implement polices to abide by laws set by these acts
- Define paid time off and implement a fair reward system
- Implement fair wage scales for each position within the practice
- Describe benefits offered by veterinary practices, including insurance, paid time off, holidays, CE, and retirement plans
|Course Completion Requirements
Completed students are awarded a certificate of completion. Completion requirements include:
- Instructor Graded Interactive Module Assignments: Designed to help the participant reinforce newly learned material
- Instructor Graded Interactive Case Study Assignments: Designed to help the participant apply the newly learned skills and knowledge though patient and practice based scenarios
- Examinations: All examinations must be submitted with a score of 80% or better
- Course survey
...I loved the extra resources in addition to the assignments and case studies. I loved the idea of giving a survey to the staff for them to rate the importance of each benefit to them. So simple, yet a fantastic idea especially for our company that does not offer a compensation plan currently.
...I appreciate having the Employee Benefit Summary sheet to be able to calculate an employees total compensation.
...I found the course material to be very informative. The presentation in the slide show format worked very well.
...The ability to print out the sheets and turn them into a binder is very beneficial. I learned something with every Module, as well as had information reinforced that I already knew.
...I enjoyed hearing about the different unique benefits to offer to employees.
...I really enjoyed the way the course reading was layed out as a powerpoint type presentation.
...For me planning out the compensation ranges was probably the most beneficial because we need to revamp our system and this helped get me moving in the right direction.This was my third course with Erin - I enjoy her courses - she is positive, provides upbeat feedback and responds in a timely manner.
...I liked getting A different perspective on how to develop a pay scale.
Erin Macdonald, CVT, CVPM
Erin Macdonald is currently employed at Haines Road Animal Hospital in St. Petersburg, Florida and holds the position of Hospital Administrator. She has worked in the veterinary field since 1999, her first position as a receptionist.
In 2006, she received an Associate in Arts Degree in General Studies and an Associate's in Science Degree in Veterinary Technology from St. Petersburg College. That year, she became a Certified Veterinary Technician. After receiving a Certificate in Hospital Management and a Bachelor's Degree in Veterinary Technology Management, she achieved the designation of Certified Veterinary Practice Manager in 2009.
Erin is a member of both the Florida Veterinary Technician Association and the National Association of Veterinary Technicians in America. Erin lives in Pinellas Park, Florida with her son, Kingston, dog, Gemma; and two cats, Gia and Roxanne.
This course is eligible for the 10% Multi-course discount. To learn more about the discount please visit the Multi-Course Discount page.